Question

he predetermined overhead rate is:

1. not calculated until actual overhead costs are available.

2. calculated at the beginning of the year.

3. calculated at the end of the year.

4. used to determine the amount of manufacturing overhead inccured.

Which of the following statements is correct?

1. Each job is recorded in a job cost sheet.
2. Job shop is a firm that produces jobs.
3. Work-in-process inventory is a control account.
4. All of the above.

	1.	Each job is recorded in a job cost sheet.
	2.	Job shop is a firm that produces jobs.
	3.	Work-in-process inventory is a control account.
	4.	All of the above.

Answer 1